Spot exchange rate
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Problem 26-3 (Purchasing Power Parity):
A television set costs $500 in the United States. The same set costs 550 euros in France. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar?
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Solution Summary
The solution explains how to calculate the spot exchange rate under purchasing power parity.
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Under purchasing power parity the exchange rate would be such so that the price ...
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